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VANCOUVER, March 2, 2016 /CNW/ - WesternOne Inc. ("WesternOne") (Toronto Stock Exchange: WEQ, WEQ.DB, and WEQ.DB.C) today announced the signing of an agreement for Britco to manufacture a permanent modular hotel and lodge property for the Burns Lake Band in northern British Columbia.
Production of the lodge is scheduled to start in Britco's manufacturing facilities shortly, with delivery and installation on site later in 2016. Britco's scope of work will include the design, engineering, building construction, on-site installation including building foundation, and readying the building for occupancy with furniture and fittings.
"We are excited to enter into this agreement with the Burns Lake Band," said Peter Blake, CEO of WesternOne. "Britco has a long history of working with our Indigenous partners to design and build custom buildings that suit the needs of our partners and their communities."
The 42-room lodge will include an exercise room, business centre, breakfast café and two-storey entrance lobby that will display cultural and historical photographs and art.
"The Burns Lake Lodge permanent modular construction project, although less than $10 million in contract value, is encouraging in that it represents early success from Britco's strategy to diversify our business beyond primarily building for workforce accommodation," said Obie Erickson, President of the Britco Canadian operations. "We are pursuing a number of other permanent modular construction opportunities similar to the Burns Lake Lodge project and additional Passive House projects similar to Britco's Bella Bella Passive House. We hope to share further encouraging news in the coming period."
Britco has nearly 40 years of experience designing and building custom projects in their manufacturing facilities, which are then delivered and installed for customers in remote locations.
Certain statements in this press release may constitute "forward-looking" information that involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such information includes, without limitation, statements with respect to: the production start date and expected delivery and on-site installation of the Burns Lake Lodge project; Britco's scope of work in relation to the Burns Lake Lodge project; the facilities of the Burns Lake Lodge; and Britco's strategy to pursue other permanent modular construction opportunities. Actual events or results may differ materially.
Forward-looking information contained in this press release is based on certain key expectations and assumptions made by WesternOne, including, without limitation, management's assessment of future plans and operations. Although the forward-looking information contained in this press release is based upon what WesternOne's management believes to be reasonable assumptions, WesternOne cannot assure investors that actual results will be consistent with such information. Forward-looking information reflects current expectations of management regarding future events and operating performance as of the date of this press release. Such information involves significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, and a description of these factors can be found under "Risk Factors" in WesternOne's Annual Information Form dated March 30, 2015 and Management's Discussion and Analysis dated November 11, 2015, which are both available on SEDAR (www.sedar.com).
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to WesternOne. The forward-looking information is made as of the date of this press release and WesternOne assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
About Burns Lake Band
Burns Lake Band, also known as Ts'il Kaz Koh First Nation, is a community located on Burns Lake, near the divide between the Bulkley and Nechako River basins, approximately 220 km west of Prince George, British Columbia. Ts'il Kaz Koh as a name is derived from the Carrier name for the creek that runs through the area.
With modular construction facilities in British Columbia, Alberta and Texas, Britco is one of the largest commercial modular construction companies in North America.
Britco provides temporary and permanent residential and commercial modular buildings and offers leading design-build capabilities as well as turn-key construction management services for a wide range of customers in the construction, energy and resource sectors.
Britco is headquartered in Langley, British Columbia. Additional information about Britco is available at www.britco.com.
WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sectors in order to generate value for its shareholders. Additional information relating to WesternOne and other public filings is available on SEDAR at www.sedar.com or on WesternOne's website at www.weq.ca.
Toronto Stock Exchange: WEQ, WEQ.DB and WEQ.DB.C
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SOURCE WesternOne Inc.
Image with caption: "Artist’s rendering of the Burns Lake Lodge project (CNW Group/WesternOne Inc.)". Image available at: http://photos.newswire.ca/images/download/20160302_C1306_PHOTO_EN_634359.jpg
For further information: Andrew Greig, Manager of Investor Relations, WesternOne Inc., Suite 910, 925 West Georgia Street, Vancouver, BC V6C 3L2, Phone: (604) 678-4042, E-mail: [email protected]; Meghan Cairns, Manager, Marketing and Communications, Britco LP, 100 - 20091 91A Ave, Langley, BC V1M 3A2, Phone: (604) 679-9032, E-mail: [email protected]; Burns Lake Band / Ts'il Kaz Koh First Nation, 675 Hwy 16 West (Bag 9000), Burns Lake, BC V0J 1E0, Office: (250) 692-7717, Main reception Email: [email protected], www.burnslakeband.ca